RGS Energy (NASDAQ:RGSE), America’s Original Solar Company since
1978, has partnered with industry leaders Risen Energy Co., General
Polymers Thermoplastic Materials and Creative Liquid Coatings to
commercialize the RGS POWERHOUSE™ 3.0 Solar Shingle, an innovative
and visually stunning solar shingle system using technology
developed by The Dow Chemical Company.
Next Generation POWERHOUSE™ 3.0By coupling
roofing with an energy saving solar panel in a singular product,
the POWERHOUSE™ Solar Shingle uniquely addresses the unmet needs of
residential homeowners with asphalt rooftops, which represent about
85 percent of U.S. homes. Currently, more than 1,000 homeowners are
enjoying benefits of earlier generations of POWERHOUSE™.
RGS Energy believes POWERHOUSE™ addresses a large, untapped
market, appealing to both single-family homeowners and new home
builders. The forthcoming POWERHOUSE™ 3.0 is designed to maintain
or improve upon earlier generation product features, while
substantially reducing manufacturing costs. POWERHOUSE™ 3.0 will
offer a more competitive value proposition, even after the recently
imposed tariff on imported solar cells.
RGS Energy estimates if POWERHOUSE™ achieves a 1% share of the
re-roof and new home build markets, the product could be propelled
to the billion-dollar revenue mark.
Risen Energy Co.
Risen Energy Co., Ltd (China - Shenzhen: 300118) is a Top 10
Tier 1 solar cell and module manufacturer located in China with a
current annual manufacturing capacity of more than 4.5 gigawatts.
Risen will supply all the solar components and wire harness
connectors for POWERHOUSE™ 3.0.
“We’re excited to be a part of this new POWERHOUSE™ 3.0
program,” said Bypina Veerraju Chaudary, Risen’s Chief Sales and
Marketing Officer. “Built-in Photovoltaics are the path to greater
world-wide adoption of solar technologies, and further enhances the
clean energy choices for discerning consumers.”
General Polymers Thermoplastic Materials
General Polymers Thermoplastic Materials is one of the fastest
growing multi-national thermoplastic resin distributors serving
custom injection molders in North America. The company will supply
the polypropylene plastic resin for the base assembly of
POWERHOUSE™ 3.0, which is expected to maintain the durability and
toughness of the original resin while increasing manufacturing
efficiency and reducing the overall cost of raw materials.
“Building-Integrated Photovoltaics is an untapped market in the
U.S., and RGS Energy, America’s Original Solar Company, is an ideal
partner for General Polymers for pursuing this opportunity,” said
Michael Kirtley, President and COO of General Polymers. “We are
looking forward to being a strong channel supplier to their
POWERHOUSE™ 3.0 program.”
Creative Liquid Coatings
Headquartered in Northeast Indiana, Creative Liquid Coatings
provides world-class capabilities in injection molding and paint
finishing serving the consumer and industrial products markets. The
company will supply all POWERHOUSE™ 3.0 molded polymer components
fully assembled, with all solar components, wire harnesses and
other parts required to deliver a finished product to RGS Energy
customers. Creative Liquid Coatings was a supplier for earlier
generations of the POWERHOUSE™ product.
“RGS is the perfect company to commercialize POWERHOUSE™ solar
shingles, and we are excited to join them in introducing the
product to a broader market,” said Stephen Geist, General Manager
of Creative Liquid Coatings. “POWERHOUSE™ is an innovative
technology that we expect will play a critical role in the
evolution of the U.S. residential roofing marketplace.”
RGS POWERHOUSE™ 3.0 Manufacturing Supply Chain
Overview
|
POWERHOUSE™ 3.0 |
POWERHOUSE™ 2.0 |
An improved
product: |
|
|
Price
point to customer |
Lower |
Higher |
Energy
Production |
Higher |
Lower |
|
|
|
Achieved
by: |
|
|
Solar
photovoltaic |
Low
cost and more efficient glass silicon cells |
High
cost and less efficient CIGS cells |
Plastic
resin |
Equivalent durability, lower cost |
Durable, higher cost |
Supply chain
partners: |
|
Solar
photovoltaic |
Risen
Energy Co., LTD |
Horseshoe
connector |
Risen
Energy Co., LTD |
Built-in
roof base plate: |
|
Plastic
resin |
General Polymers Thermoplastic Materials, LLC |
Injection
Molding & Assembly |
Creative Liquid Coatings, Inc. |
Follow the company’s progress towards the planned launch this
summer of POWERHOUSE™ 3.0 by visiting the PowerLines news
section at www.RGSPOWERHOUSE.com.
About RGS Energy
RGS Energy (Nasdaq:RGSE) is America’s Original Solar Company
providing solar, storage and energy services whose mission is clean
energy savings. The company is the exclusive manufacturer of
POWERHOUSE™, an innovative in-roof solar shingle using technology
developed by The Dow Chemical Company. RGS Energy also sells,
designs and installs solar systems for residential homeowners,
commercial businesses, non-profit organizations and government
entities.
For more information, visit RGSEnergy.com and RGSPOWERHOUSE.com,
on Facebook at www.facebook.com/RGSEnergy and on Twitter at
twitter.com/rgsenergy. Information on such websites and the
websites referred to above in this press release is not
incorporated by reference into this press release.
RGS Energy is the company’s registered trade name. RGS Energy
files periodic and other reports with the SEC under its official
name “Real Goods Solar, Inc.”
POWERHOUSE™ is a trademark of The Dow Chemical Company, used
under license.
Forward-Looking Statements and Cautionary
StatementsThis press release contains forward-looking
statements within the meaning of the U.S. Private Securities
Litigation Reform Act of 1995 that involve risks and uncertainties,
including statements regarding RGS Energy’s plans for the
commercialization of the POWERHOUSE™ 3.0 Solar Shingle, and RGS
Energy’s business and financial strategies. Forward-looking
statements are neither historical facts nor assurances of future
performance. Instead, they provide our current beliefs,
expectations, assumptions, forecasts, and hypothetical constructs
about future events, and include statements regarding our future
results of operations and financial position, business strategy,
budgets, projected costs, plans and objectives of management for
future operations. The words “forecast,” “project,” “expect,”
“plan,” “future,” “believe,” “may,” “hypothetical,” “will,”
“anticipate,” “estimate,” “goal,” and similar expressions as they
relate to RGS Energy are intended to identify such forward-looking
statements.
Forward-looking statements should not be read as a guarantee of
future performance or results, and will not necessarily be accurate
indications of the times at, or by, which such performance or
results will be achieved, if at all. Forward-looking
statements are subject to risks and uncertainties that could cause
actual performance or results to differ materially from those
expressed in or suggested by the forward-looking statements.
Therefore, RGS Energy cautions you against relying on any of these
forward-looking statements.
Key risks and uncertainties that may cause a change in any
forward-looking statement or that could cause our actual results
and financial condition to differ materially from those indicated
in the forward-looking statements include: RGS Energy’s ability to
successfully and timely commercialize POWERHOUSE™ 3.0; the ability
to obtain requisite UL certification of POWERHOUSE™ 3.0; the
adequacy of, and access to, capital necessary to commercialize
POWERHOUSE™ 3.0; RGS Energy’s ability to satisfy the conditions and
our obligations under the POWERHOUSE™ 3.0 license agreement; RGS
Energy’s ability to manage supply chain in order to have production
levels and pricing of the POWERHOUSE™ 3.0 shingles to be
competitive; cost and availability of raw materials; the ability of
RGS Energy to successfully expand its operations and employees and
realize profitable revenue growth from the sale and installation of
POWERHOUSE™ 3.0, and to the extent, anticipated; the potential
impact of the announcement of RGS Energy’s expansion into the
POWERHOUSE™ 3.0 business with employees, suppliers, customers and
competitors; RGS Energy’s ability to successfully and timely expand
its POWERHOUSE™ 3.0 business outside of the United States; foreign
exchange risks associated with the POWERHOUSE™ 3.0 business;
intellectual property infringement claims and warranty claims
related to the POWERHOUSE™ 3.0 business; competition in the
built-in photovoltaic solar system business; rules, regulations and
policies pertaining to electricity pricing and technical
interconnection of customer-owned electricity generation such as
net energy metering; the continuation and level of government
subsidies and incentives for solar energy; the continuation and
level of utility and state incentives for solar energy; changes in
general economic, business and political conditions, including
tariffs on imported solar cells and changes in the financial
markets;
You should read the section entitled “Risk Factors” in our 2017
Annual Report on Form 10-K, which has been filed with the
Securities and Exchange Commission, which identify certain of these
and additional risks and uncertainties. Any forward-looking
statements or forward-looking hypothetical examples made by us in
this press release speaks only as of the date of this press
release. Factors or events that could cause our actual results to
differ may emerge from time to time, and it is not possible for us
to predict all of them. We do not undertake any obligation to
publicly update or revise any forward-looking statement or
forward-looking hypothetical example, whether as a result of new
information, future developments or otherwise, except as may be
required by law.
Investor Relations Contact:Ron BothManaging
Partner, CMATel 1-949-432-7566RGSE@cma.team
A photo accompanying this announcement is available at
http://resource.globenewswire.com/Resource/Download/4bf0b31a-c1e3-44e2-bd49-8710c61b9bd1